Comparative Analysis of Computerized Accounting System and Manual Accounting System

Abstract

The project is a comparative analysis of Computerized Software Accounting and Manual Accounting System of Organization named as “The Motherland School”. It is good to confess here that finding an organization not having Computerized Accounting System and willing to share their financials with us was a mere good luck. Project is based on information gathered by organization’s financial statements which was accumulated and based on Manual Accounting System. With the help of Computerized Accounting Software, we were able to convert Manual data and were able to forecast the future financial standing of quoted organization. Detection showed that Computerized Software Accounting system has a massive and definitely practical effect on detail profitability more than Manual Accounting System. It was realized that The Motherland School is spending much more time and resources for data collection and financial reporting whereas Computerized Accounting System was able to do the same work with half of the human resources, almost with half of the cost & in half of the time which is currently getting consumed on Manual Accounting System. Based on these findings which were acknowledged by the organization senior leadership that study recommends The Motherland should apply the Computerized Software Accounting System than the Manual Accounting System not only because it is time saving or is reducing cost of labor but it also has a major impact on profitability levels of The Motherland School.